The Impact of Mass Media on Sentiment of Stock Market Investors

Document Type : sience

Author
mostafa heidari haratemeh
Member of the faculty and assistant professor of economics at the Islamic Azad University of Naragh Branch
Abstract
In the age of the Internet, mass media, while playing the role of resources for more financial information, regulates the problem of information asymmetry between stock investors and accepted companies and strengthens the development of the stock market. The aim of this study is to investigate the effect of mass media on investor tendencies . According to a study conducted in the winter of 1398 among 600 students with stock investment experience, the target community was selected by targeted and non-random sampling method and after collection, 234 sperm tests were analyzed using Logit model. results show : a) The effect of mass media leads to fluctuations in the investor's desire and affects the decisions of investors' transactions. b) In a bear market, the impact and influence of news media is greater than social and specialized media. c) In a bull market reform market, the impact of news media is greater than that of social media. d) The impact of media reports is asymmetric . This means that in a bull market, investors pay more attention to optimistic reports and ignore those with negative signals. In contrast, in a bear market, investors are more vulnerable to pessimistic reports, and reports with active information do not significantly affect them.

Keywords

 
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Society Culture Media
Volume 10, Issue 39
Spring 2022
Pages 195-204

  • Receive Date 22 October 2020
  • Accept Date 07 June 2021